Housing Wire

AUGUST 5, 2024

Fears of a recession in the U.S. sent shockwaves through financial markets around the world on Monday. The Dow-Jones dropped 1,000 points by 10:30 a.m. Eastern time, the NASDAQ lost up to 6% of its value and Japanese stocks suffered their biggest crash since 1987, with the Nikkei 225 stock index dropping 12.4%. The turbulence should benefit the U.S. mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchma

Mortgage 501

Mortgage Marketing Insurance Loan Officers 501

Appraisal Buzz

AUGUST 5, 2024

A new analysis from Zillow has found that luxury home value growth has now outpaced appreciation on typical homes for five consecutive months. The typical luxury home—defined by Zillow as the most valuable 5% of homes in a given region—is worth about $1,620,000. Among the 50 largest U.S. metro areas, the typical luxury home ranges from a low of just under $750,000 in Buffalo to more than $5.3 million in San Jose.

Home Value 418

Home Value Inventory Buyers Marketing 418

Housing Wire

AUGUST 5, 2024

Seller impersonation fraud is on the rise. A study conducted by NDP Analytics found that 28% of title companies experienced at least one seller impersonation fraud attempt in 2023, and in April 2024 alone, 19% of firms experienced at least one of these attempts. The study, which was released on Monday, is based on a nationwide survey of 783 title companies.

Sellers 501

Sellers Training Real Estate Insurance 501

Appraisal Buzz

AUGUST 5, 2024

As of Q2 2024, tappable equity in the U.S. housing market has surged to a record $11.5 trillion, with three out of five mortgage holders possessing at least $100,000 in equity they can borrow against, according to the August 2024 ICE Mortgage Monitor Report. Despite outstanding mortgage debt hitting an all-time high of $13.8 trillion in June, rising home prices have driven mortgage holder equity to a new peak of $17.6 trillion.

Home Value 397

Home Value Inventory Mortgage Lending 397

Housing Wire

AUGUST 5, 2024

The global stock selloff that began overnight in Asia rolled through U.S. markets on Monday as the S&P 500 and the Dow Jones Industrial Average fell by 3% and 2.6%, respectively. While technology-sector darlings such as Nvidia and Apple got thumped the hardest, the real estate industry also took its fair share of lumps. But analysts believe that the sell-off, paired with a drop in interest rates, could produce mixed results for real estate.

Brokerage 488

Brokerage Marketing Real Estate Mortgage 488

Appraisal Buzz

AUGUST 5, 2024

At this year’s Five Star Conference 2024 , the Mortgage Servicing Forum will bring together experts from the loss mitigation and compliance space to discuss the impact this market will experience in an uncertain election year. The Mortgage Servicing Forum will bring together top mortgage servicing executives and government representatives to discuss the challenges facing the industry, while charting the best path forward.

Mortgage 391

Mortgage Government Law Design 391

Real Estate News

AUGUST 5, 2024

A Redfin survey found that younger buyers are more willing to sacrifice safety, and overall, proximity to amenities was lower on the list of must-haves.

Buyers 331

Buyers 331

Housing Wire

AUGUST 5, 2024

The acceleration of climate change has fueled more frequent and more severe natural disasters, but that isn’t keeping people away from high-risk parts of the country. A new report from Redfin shows that migration patterns in 2023 weren’t interrupted by the realities of climate change as moving trends appear to be driven by factors other than the risk of natural disasters.

Insurance 462

Insurance Real Estate 462

Real Estate News

AUGUST 5, 2024

The brokerage, which received praise for its new buyer and seller agreements, is sharing forms and scripts related to concessions and buy-side compensation.

Sellers 279

Sellers Agents Brokerage Buyers 279

Housing Wire

AUGUST 5, 2024

Rising home prices managed to outpace an all-time high of $13.8 trillion in mortgage debt, pushing mortgage holder equity to a new high of $17.6 trillion in the second quarter of 2024. On top of that, tappable home equity reached a new high of $11.5 trillion, a 4% gain compared to the first quarter and a 9.2% year-over-year increase, according to new data from ICE Mortgage Technology.

Home Value 459

Home Value Mortgage Technology Lending 459

Appraisal Buzz

AUGUST 5, 2024

During the second quarter of 2024, the demand for distressed properties at auction displayed strong performance initially but showed signs of decline in June, even as the supply of available auction properties continued to contract, according to Auction.com’s latest Auction Market Dispatch report. “The demand slippage in late Q2 could be an early indication that local community developers buying at auction are becoming increasingly wary of rising retail inventory, which represents competition f

Retail 273

Retail Renovations Inventory Contracts 273

Housing Wire

AUGUST 5, 2024

CreditXpert stands apart in the industry by offering innovative solutions that emphasize credit optimization over traditional credit repair. In this executive conversation with Mike Darne, VP of Marketing, we explore how CreditXpert is delivering precise credit optimization solutions and their commitment to making homeownership more accessible and affordable.

Tools 459

Tools Mortgage Insurance Investing 459

Appraisal Buzz

AUGUST 5, 2024

Wells Fargo Senior EVP and Head of Technology Bridget Engle Wells Fargo & Company has announced that Bridget Engle has been named Senior EVP and Head of Technology, reporting to Wells Fargo CEO Charlie Scharf and joining the company’s Operating Committee. Engle will be responsible for all technology across the company, and brings more than 30 years of experience managing large, global technology organizations in complex financial institutions.

Technology 221

Technology Modernization Business Clients 221

Housing Wire

AUGUST 5, 2024

Massachusetts Gov. Maura Healey (D) has signed a $57.8 billion state budget for 2025, which features several provisions designed to assist the state’s senior residents with health care, food assistance and aging-in-place provisions like home-based care. This is according to announcements by Healy’s office and AARP. Signed into law on July 29, the budget features support for several aging-specific programs advocated for by AARP.

Transportation 448

Transportation Law Design Insurance 448

Appraisal Buzz

AUGUST 5, 2024

Waterstone Mortgage Corporation VP of Accounting & Finance Jim Harper Pewaukee, Wisconsin-based national mortgage lender Waterstone Mortgage Corporation has named Jim Harper as the company’s new VP of Accounting & Finance, bringing more than 25 years of experience in the financial services industry to the position. Founded in 2000, the company is a wholly-owned subsidiary of WaterStone Bank SSB, which, in turn, is a wholly-owned subsidiary of Waterstone Financial Inc., and currently lend

Retail 221

Retail Finance Lending Business 221

Housing Wire

AUGUST 5, 2024

The National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter to Ginnie Mae acting president Sam Valverde, offering their thoughts and perspectives on the government-owned company’s proposed supplemental Home Equity Conversion Mortgage (HECM)-backed Securities ( HMBS ) program. That program, referred to by industry participants as “HMBS 2.0,” was initially announced as in development at the beginning of the year.

Development 430

Development Legal Government Mortgage 430

Appraisal Buzz

AUGUST 5, 2024

As the summer market heats up, it’s important to stay informed and inspired. Whether you’re running from one job to the next, taking a well-deserved break, or simply looking to expand your industry knowledge, a great book can be your perfect companion. Our 2024 Summer Reading List is packed with insightful and motivational reads to help you thrive in your field.

Tools 221

Tools Appraisal Valuation Business 221

Inman

AUGUST 5, 2024

Just about one month after listing the property with Leonard Moens, Leonard Riggio's 1.7-acre oceanfront estate in Palm Beach has gone under contract.

Buyers 192

Buyers Contracts 192

Appraisal Buzz

AUGUST 5, 2024

Candor Technology has launched PreQual, a patented borrower prequalification service that leverages artificial intelligence to deliver instant results and borrower insights across conventional and FHA loans. Traditional prequalification processes are often time-consuming and cumbersome, leading to delays and inefficiencies in the mortgage lending workflow.

Tools 195

Tools Technology Mortgage Loan Officers 195

Inman

AUGUST 5, 2024

A Washington listing photographer said Zillow Gone Wild used her photo without permission in February 2022. After attempting to negotiate a payment of roughly $30,000, she's now suing for a maximum judgment of $300,000.

Real Estate 187

Real Estate Agents Marketing 187

Appraisal Buzz

AUGUST 5, 2024

Home equity lenders’ use of AVMs has increased significantly, a report from Corporate Settlement Solutions (CSS) shows. The report measures of the types of valuation products that lenders are using – including automated valuation model/property condition reports; appraiser-valued hybrids; full appraisals; non-appraiser-valued hybrids; and drive-by appraisals.

Valuation 195

Valuation Lending Appraisal Clients 195

Inman

AUGUST 5, 2024

The U.S. Navy will expand a toxic remediation project at the Hunter's Point Shipyard after radioactive findings at the site.

Development 184

Development Marketing 184

Appraisal Buzz

AUGUST 5, 2024

Home equity held by U.S. mortgage borrowers hit an all-time high of $13.8 trillion in June, according to ICE Mortgage Technology’s Mortgage Monitor report. At the same time, outstanding mortgage debt also hit an all-time high in June – however, with rising home prices, the equity gains outpaced the increase in outstanding debt. Tappable equity – the amount a borrower can access while maintaining a healthy 20% equity cushion – also hit a new peak in June at $11.5 trillion, an increase of 4% comp

Mortgage 195

Mortgage Lending Home Value Appraisal 195

Inman

AUGUST 5, 2024

The MLS has been a leader in real estate innovation for over 30 years. Its brand, VestaPlus, is renowned for user-friendliness, customer service, and design in the MLS industry.

Design 183

Design Real Estate 183

Appraisal Buzz

AUGUST 5, 2024

Consolidated Analytics (CA), a provider of comprehensive mortgage services and data analytics, has acquired the assets of Investor Claim Solutions (ICS), specializing in investor claims solutions and loss analysis recovery, for an undisclosed sum. This strategic asset-based acquisition marks a significant expansion of Consolidated Analytics’ service offerings, reinforcing its position as a premier provider of mortgage solutions.

Investors 195

Investors Clients Technology Mortgage 195

Inman

AUGUST 5, 2024

Concerns about fraud mean lenders who want to sell multifamily loans to the mortgage giants may be required as soon as this summer to do more due diligence on borrowers and their properties.

Mortgage 177

Mortgage Real Estate 177

Appraisal Buzz

AUGUST 5, 2024

MIAC Analytics , a provider of pricing, risk management, and accounting solutions for the mortgage and financial service industries, is now integrated with Fannie Mae’s Mission Score application programming interface (API) and Mission Score 2 and 3 product grids. Fannie Mae has designed its Mission Index framework to support its goal of providing affordability, liquidity, and stability to the housing market.

Clients 195

Clients Lending Design Investors 195

Inman

AUGUST 5, 2024

Shares in Offerpad hit a new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in the third quarter.

Marketing 177

Marketing 177

Eyes on Housing

AUGUST 5, 2024

Residential building workers’ wage growth accelerated to 9.0% in June. This marks the fastest year-over-year (YOY) growth rate since December 2018. After a 0.3% increase in June 2023, the YOY growth rate for residential building worker wages have been trending upward over the past year. The ongoing skilled labor shortage in the construction labor market.

Construction 159

Construction Marketing 159

Inman

AUGUST 5, 2024

By its definition, real estate is a high-churn business, according to Mike DelPrete, which offers the potential for massive shifts in brokerage revenue year-to-year.

Agents 173

Agents Brokerage Real Estate Business 173

BiggerPockets

AUGUST 5, 2024

Avoid costly surprises when buying property by addressing red flags in inspection reports. Learn why secondary inspections are crucial for high-risk issues.

Inspection 92

Inspection 92

Inman

AUGUST 5, 2024

Declining mortgage rates may finally be bringing some buyers back to the table. But agents will need to see more before they change their skeptical outlook, Inman Intel Index results suggest.

Clients 170

Clients Buyers Agents Mortgage 170

BiggerPockets

AUGUST 5, 2024

Learn how to run a successful rental business by choosing the right structure, managing finances, complying with laws, and maintaining properties effectively.

Business 90

Business Law Finance Real Estate 90

Inman

AUGUST 5, 2024

Is your office the one everyone talks about for all the wrong reasons? Consultant Rachael Hite says your "fun" office just might be the opposite.

Agents 167

Agents Brokerage 167